GT Gold Corp. Corp. [GTT-TSXV] is well funded and gearing up for this summer’s drill programs at its 100%-owned, 468 km2 Tatogga property near the community of Iskut in the prolific Golden Triangle region of northwestern British Columbia.
The Golden Triangle, which lies within the traditional territory of the Tahltan First Nation, boasts a number of past-producing mines including the rich Eskay Creek gold-silver mine, and currently hosts two operating mines – Imperial Metals and Newcrest’s Red Chris copper-gold mine, 18 km southeast of Iskut, and Pretium Resources’ high-grade Brucejack gold mine. GT Gold’s Tatogga property is located only 20 km northwest of the Red Chris mine, close to established infrastructure including paved Highway 37, the 287 kV provincial power grid, and a local deep water port, at nearby Stewart, B.C. This all affords GT Gold the opportunity to relatively quickly advance its Tatogga property discoveries.
In the short time since the company’s public listing at the end of 2016, and in only two seasons of drilling, GT Gold has made two significant discoveries. The first, the near-surface Saddle South epithermal gold-silver system, came in 2017. It remains open to the east, southwest and to depth. In 2018, GT Gold followed with the exciting Saddle North copper-gold porphyry discovery, which is emerging as both large-scale and high-grade.
Drilling at Saddle North target has returned a number of truly spectacular intersections, including the following intersections in the final drill hole of the season, TTD109, which returned 0.62 g/t gold, 0.36% copper, and 1.17 g/t silver (0.82% CuEq; 1.12 g/t AuEq) over 1,149.70 metres between 11.33 and 1,161.00 metres. This intersection included subintervals of 0.84 g/t gold, 0.44% copper, and 1.52 g/t silver (1.07% CuEq; 1.46 g/t AuEq) over 776.58 metres between 384.42 and 1,161.00 metres, and 1.28 g/t gold, 0.57% copper, 2.30 g/t silver (1.53% CuEq; 2.08 g/t AuEq) over 342.50 metres between 740.00 and 1,082.50 metres.
A total of 8,200 metres of drilling were completed at Saddle North in 2018, and every hole intersected copper-gold porphyry-style mineralization. The initial Saddle North drill discovery resulted from testing a “blind” target along geological and geochemical trends highlighted by magnetic and Induced Polarization geophysical surveys. The surveys identified a large-scale coincident anomaly that remains open along strike in both directions well beyond the known 650 metre strike extent of the northwest-trending system. Within the up to 700 metre thick system, appears to be a higher-grade core zone, varying in thickness from ~100 metres near surface to over 300 metres at depth, remaining open to depth. Mineralization in the core zone is exemplified by intervals intersected in hole TTD109 and listed above, but the high grades were also intersected in a number of the shallower holes, including the shallowest hole drilled to date, suggesting that the higher-grade core may stretch down-dip from near surface as much as 1300 metres.
Copper and gold grades returned in the initial Saddle North drill holes are comparable with resource grades of many global development projects and producing mines. Potentially robust economics are also suggested by the presence of the high-grade core, particularly if continuity is proven between the higher-grade intercepts near-surface and those at depth.
The first phase of GT Gold’s 2019 drilling program will consist of approximately 10,000 metres to focus on expanding the copper-gold porphyry system at Saddle North. Drill targets for a second phase of drilling will largely be determined by the results of Phase One, but will also likely include other targets on the property. Excellent targets are located along trend to both east and west at Saddle North, in several places at Saddle South, and farther afield on the property, such as to the south at the Pass Gossan occurrence.
“On the back of an exceptional 2018 campaign, our team has successfully outlined a potentially world-class copper-gold porphyry system,” commented Charlie Greig, Vice President, Exploration. “We expect this year’s program to be comparable in size to last year’s, but with the majority of drilling to be conducted at Saddle North. We’re thrilled to be gearing up for what will be another exciting exploration season in our company’s short history.”
GT Gold has attracted a variety of shareholders – many institutional investors, long-term holder mining financier Ross Beaty, and recently Newmont Goldcorp with a 9.9% strategic investment.
GT Gold is headed by Steve Burleton, President and CEO, who leads a strong management team that combines technical expertise with extensive capital markets experience. The company has 116.1 million shares outstanding and trades on the TSX Venture exchange under the symbol GTT.